The Christmas season is a time of sharing and giving. It can also be a great time to teach your little ones important lessons in financial responsibility. An easy way to begin is to sit down and plan a Christmas budget. If you’re helping your kids buy Christmas presents for friends and family members, this is a great way to help limit the spending while still providing your child the freedom to make choices of their own. Here are a few helpful tactics:
- Decide as a family if your child will give a gift to each sibling, parent and grandparent, and find out about any friends they may wish to exchange gifts with.
- Pick a set amount that will allow your child to buy all the gifts they need to purchase.
- Pick items to be purchased and set a target budget for each person your child needs to shop for.
Teach your child to watch for sales and compare prices online or in holiday ads to find the best values. The holidays are a great time to show our friends and loved ones how much we care–and a great time to teach your children how to be smart and generous with their money.
Aurora’s got her purse…she’s ready to purchase her presents.
Mandy, Pike and Brynn are enjoying some holiday shopping.
